TVB to Sek a Judicial Review on Additional Issuance of TV Licence
TVB - the dominate media network in HK - issued a release stating that it is seeking a judicial review on the licensing issue. The move is viewed as a desperate attempt to delay the government's granting licenses to the three target companies, including CTEL. The 1st quarter is a critical time for networks to grab as much advertising dollars as they can. CTEL's counterpart shares early trading in HK made an intraday low of $5.69 but recovered to $6.10 at close. Its another buying opportunity!